Almost 93% of Household Deposits Accounted for Baku

Slowly decreasing is the difference between bank deposits in the capital and the regions. According to the Central Bank, by October 1, 92.39% of all deposits in this category were in Baku. Their portfolio in absolute terms amounted to 6 billion 430,008,700 manat (+ 8.2% YTD). The average percentage rate is 8.1% per annum.

Residents of the capital prefer deposits in manat - their share is 62.4%, or 4,014,175,800 manat. Deposits in foreign currency account 2,415,832,900 manat, or 37.6% of total deposits at Baku. In the capital deposits from the public in foreign currency are accepted by the banks on the average rate of 8.8% per annum, and those in the national currency – on 7.6% per annum .

In the regions, the figure is worse - banks attracted just 529 657 200 manat, but the trend is more positive – it is 11.4% more than by January 1 of this year. In the periphery the population of the Absheron economic region most actively keeps money in banks. By October 1, people’s contributions amounted to 166,209,300 manat with an average rate of 8.6% per annum.

From the inhabitants of the Aran economic region banks attracted deposits in the amount of 160,422,100 manat (rate - 7.6% per annum), in Ganja - Gazakh economic region - 57.35 million manat (rate - 5.8% per annum). The other economic areas had far fewer funds raised. The population of the periphery also prefers deposits in national currency. --17D-